the securities and exchange commission and the financial industry regulatory authority want them to hand over the details of their trading strategies including secret computer codes. the regulatory agency says it wants to see the algorithms as part of an investigation into suspicious market activity. the securities and exchange commission says it wants to see the codes to better understand the electronic trading market. >> susie: here's what we're watching for tomorrow. as we mentioned, we'll see the august employment numbers. economists expect to see 80,000 jobs added to payrolls. also tomorrow, the tug of war in the market between recession fears and strong corporate earnings has our friday "market monitor" guest thinking big. jack ablin of harris private bank will tell us what large cap u.s. stocks he is buying. oil prices inched higher today after major oil and gas producers began shutting production in the gulf of mexico. there's a storm brewing offshore that could become a tropical storm in the coming days. royal dutch shell, exxonmobil, b.p. and marathon oil began precautionary sh

of the things we did was say that there would be a steady so we could streamline the securities and exchange commission. one of the bills they had before us today would codify the recommendations made by the study group. it would help you streamline and improve the security and exchange commission. >> there are some things in the bell that -- bill that are worth exploring. it did not evolve quickly and rapidly enough. we need the flexibility to organize the sec on an ongoing basis of overtime to be responsive for a market place. this a probably be my primary concern with the bill. there are some other issues for which i would also disagree. we would also be willing to work with the committee to see if there was some legislative a person made sense. when we know we have a long way to go. >> let me follow up with a following. what my you need to respond and failures you have come to address t? >> they have to be achievable and consistent with our mission. i feel the way this is structured almost no agency of government could be all of these requirements. we already do cost-benefit analysis. we look at th

the security exchange commission charged george rivera and mark harmon with fraud saying that they created an investment scheme that promised 6300% return. instead of investing the money, though, authorities say that the two spent millions on cars. a $360,000 birthday party and a $2.6 million worth of improvements to rivera's home in alamo. >>> a backlash to a planned bake sale. we talked about the racially priced bakeries. >> reporter: the price list is what is stirring up the controversy. they plan to charge $2 for caucasian students, .150 for asian students, 1.50 for -- 1.50 for asian students, 1.50 for hispanic students, 50 cents. you you are charging different races different prices for baked goods and that's wrong. that's our point is that it's wrong to judge people on the color of their skin. >> it's in the issue-racial issues -- i guess it could have done in a lot more acceptsative manner. >> in a community such as berkeley, like known for its, like being liberal -- >> i don't know if actually using pricing for races or gender was the right tactic. >> school president said that the

that he put him in charge of the securities exchange commission that he created in thirty five i think it was or thirty three or because it takes a thief to catch a thief. was the look at the news and she she thought that was hilarious actually she would she put it very strongly dislikes joe kennedy he took a pretty bad advantage over financially or otherwise but that was when the step taxes first the most recent that was its most recent incarnation it was also in place during the spanish merican war and from then and sold what sixty four i think it stood a fixie and at that point it was generating such a surplus because it was originally put in there just to fund the seas see that it got blown up during one of the you know i don't know how but we jordan johnson ministration. i don't know if you saw the the the sixty minutes thing about the you know whoever gets their computer closest to the wall street compute super computers can do this. under their young men yes i think it's a trade in value. if a securities transaction tax like this which is now being pushed really hard by like the

speaking of downgrades, the security and exchange commission subpoenaed several firms on possible insider trading ahead of the recent historic downgrade of this country's credit rating. else wear, the head of the house judiciary committee says an outside investigator is needed to determine whether politics played a role in a $528 million federal loan for bankrupt solyndra. >>> a weakening outlook from u.s. home builders did little to help stocks yesterday. however, home builder lanard got a boost from stronger than expected earnings. apple hit a record high price to unseat exxonmobil. goodrich was pushed up 16%. tyco's plans to split into three separate companies drove its stock 2% higher. shares of former market darling netflix tumbled on plans to spin off its dvd division into a separate service called qwikster. if that's not bad enough, the twitter handle qwikster, whose guy's avatar is a pot-smoking elmo. he says he is willing to sell, but that would violate twitter policy. can't catch a break there. >>> tony stewart draws first blood, one step forward, one step back for the red sox.

. >>> the securities and exchange commission may file civil action against standard & poor's for its rating of a 2007 mortgage debt offering. the commission may move against the entire rating industry for actions leading to the financial crisis. and finally, the inventor of the dorito, arch west, will be buried as a result in tribute to the 97-year-old's family says they'll sprinkle some chips in his grave. >>> coming up, the cowboys kick the redskins. the astros bunt the cardinals. and the red sox keep slip sliding away. the tampa bay rays grab another win and a tie for the american league wild card playoff spot. your early morning sports headlines are straight ahead. >>> and after at least a few days' worth of showers across a few areas, changes in the forecast coming up. you're watching "early today." s >>> good morning. if you're just waking up, this is "early today." in sports last night the agony continued for the cursed boston red sox. here's nbc's fred roggin with an early look at all your sports headlines. >>> good morning. the red sox's september collapse has hit a new low

of the things we did was say that there would be a steady so we could streamline the securities and exchange commission. one of the bills they had before us today would codify the recommendations made by the study group. it would help you streamline and improve the security and exchange commission. >> there are some things in the bell that -- bill that are worth exploring. it did not evolve quickly and rapidly enough. we need the flexibility to organize the sec on an ongoing basis of overtime to be responsive for a market place. this a probably be my primary concern with the bill. there are some other issues for which i would also disagree. we would also be willing to work with the committee to see if there was some legislative a person made sense. when we know we have a long way to go. >> let me follow up with a following. what my you need to respond and failures you have come to address t? >> they have to be achievable and consistent with our mission. i feel the way this is structured almost no agency of government could be all of these requirements. we already do cost-benefit analysis. we look at th

the securities and exchange commission is under review over allegations documents from early investigations into several major banks and convicted ponzi schemer bernard madoff were illegally destroyed. s.e.c. officials say the former policy that allowed staffers to discard documents has since been revised. >>> finally, say good-bye to brownies baked under a bulb. energy efficiency has sparked a modern makeover for the easy-bake oven. the old school 100-watt incondescent bulb has been replaced with a heating element like you'll find in a grown-up stove. >>> mariano rivera's pursuit of the major league saves record is put on hold. apparently it wasn't time to forgive and forget at last night's dodgers/diamondbacks game. your early morning sports headlines are straight ahead. >>> and our well-advertised taste of fall is moving into the eastern half of the country. your forecast is coming up. you're watching "early today." >>> good morning. if you are just waking up, this is "early today." in sports, the mlb playoffs are just starting to take form with the phillies clinching the first postseaso

the securities and exchange commission is considering civil action against the firm for 2007 ratings ortgage investments that turned out to be worthless. s&p consistently gave good bargains to the mortgage backed securities whose demise contributed to if not started the 2008 financial crisis. >>> supermarkets are bagging self-serve checkouts. chains nationwide are ditching the do it yourself option when study after study shows shoppers preferred human cashiers. cashiers last year went through checkout lanes down from 22% three years ago. those shoppers surveyed say they just like the human experience. >>> and the "jersey shore" is going to have to pay up. the new jersey governor chris christie has vetoed the subsidy the raeltd reality show had applied for. the request outraged lawmakers. the governor agrees that the show hurts the state's image. no worries, terrell, i know it's your favorite show. production will not be affected. >> thank you. i can actually go on with the morning now. i feel so much better. ashley, thank you so much. appreciate it. >>> while we're talking about actor

groupon has also received questions from the securities and exchange commission about an internal memo that lashed out at critics for questioning its growth and track record. and tom, it looks like investors have cooled off on another recent i.p.o.-- dunkin donuts. goldman sachs told clients today to sell shares in dunkin brands, the very company that goldman brought public as a lead underwriter just a few weeks ago. >> tom: we have yet to see a positive session in the month of september for the major stock indices. here's today's trading for the dow. the lowest level was hit just before 11 a.m. eastern time. by the close, the index had dug itself partially out of that hole, ending with a loss of about 100 points. banking stocks again saw the brunt of the selling. bank of america and j.p. morgan each fell more than 3%. citi dropped 2.5%. today was the first trading day after the federal government announced late friday it was suing several banks, including these three, over mortgage securities gone bad. after the close, bank of america announced a management shakeup, including one of t

speaking of downgrades, the securities and exchange commission has subpoenaed several firms over possibleahead of the recent historic downgrade of this country's credit rating. elsewhere, the head of the house judiciary committee says an outside investigators is needed to determine whether politics played a roll in a $528 million federal loan for now bankrupt solar energy company solyndra. a weakening outlook from u.s. home builders did little to help stocks yesterday. apple hit a record high share price to once again exceed exxon mobile as the nation's most valuable company. goodrich up 16%. shares of former market darling netflix tumbled on plans to spin off its dvd division into a separate service called qikster. it turns out that twitter handle it already take by a guy whose avenue tar was a pot-spoking elmo. he says he's willing to sell the handle, but that would violate twitter policy. not sure that's the analogy netflix is looking for. >>> well, in health news this morning, a new study on mice shows there is likely a connection between being social and keeping weight off. five mice

shareholder approval being required for political expenditures that also is approaching the security and exchange commission asking to require public companies to disclose their campaign activities. then the group's democracy 21 and the campaign legal center, ced and a number of other groups are working to pass legislation to end this problem. we came very close in 2010, passed legislation in the house that would have required the disclosure that is necessary here, got within one vote of the 60 necessary to break a filibuster, to pass the legislation but the legislation failed for various reasons, one of which is the consensus broke down. republicans almost unanimously opposed the legislation for various reasons. as you can see on any issue in the united states congress it is hard to get bipartisan support for anything. in 2000 when disclosure laws were needed to deal with a new problem with 527 groups the congress passed with overwhelming bipartisan support that included 48 out of 54 republican senators voting for disclosure. ten years later we had no republican senator voting for disclosure. part of this

a former attorney with the securities and exchange commission could find himself on the wrong side of the law. the agency said david becker had a criminal conflict of interest when he handled legal matters surrounding the case against bernard madoff for the s.e.c. here's why-- he helped the s.e.c. decide if money should be taken back from madoff investors who withdrew more than they'd invested. but becker had received an inheritance from his mother that included madoff funds. becker may face charges with the justice department. media in 2011-- it's all about cutting out the middleman. harry lin explains. he's executive-in-residence at idea-lab, a technology incubator in pasadena, california. >> one of my favorite $10 words in the tech industry is "disintermediation." basically, it means cutting out the middleman. the internet is a massive driver of disintermediation, especially in media industries. lets talk about tv and books. back in the pre-youtube days, if you had creative talents suited for television, you'd, well, try to get a job in television. you'd pitch your project to a net

the securities and exchange commission is under review over allegations documents from early investigationsnto several major banks and convicted ponzi schemer bernard madoff were illegally destroyed. s.e.c. officials say the former policy that allowed staffers to discard documents in closed cases has since been revised. >>> finally, say good-bye to brownies baked under a bulb. energy efficiency has sparked a modern makeover for the easy-bake oven. the old school 100 watt incandescent bulb has been replaced with a heating element like you'll find in a grown-up oven. >>> mariano rivera's pursuit of the major league saves record is put on hold. apparently it wasn't time to forgive and forget at last night's dodgers/diamondbacks game. your "first look" at sports is straight ahead. [ female announcer ] investing for yourself isn't some optional pursuit. a privilege for the ultra-wealthy. it's a necessity. i find investments with e-trade's top 5 lists. quickly. easily. i use pre-defined screeners and insightful trading ideas to dig deeper. work smarter. not harder. i depend on myself the one pers

. >> tom: in a new annual review required by the financial reform law, the securities and exchange commission finds some of the nation's biggest credit rating agencies have come up short. the regulator says problems include their ratings methodologies, issues with timely and accurate disclosures and conflict of interest problems. standard and poor's, moody's and fitch ratings were all covered in the review. >> tom: after the double digit drop for the major stock indices this quarter, history tells us prices may improve in the short run. tonight's market monitor is sam stovall, chief equity strategist at s&p. sam, it was such an ugly third quarter what, does history tell us to expect in the fourth quarter? >> well, actually, history says that we might end up with a fairly favorable fourth quarter because this most recent decline of more than 14% was the tenth time sense world war ii that we had a third-quarter decline in excess of 10%. and in the prior times, the army price change was a gain of 7.2%, and we saw the market rise in eight of those nine bskses. >> tom: so odds are fourth quarter w

. >>> the securities and exchange commission may file civil action against standard & poor's for its007 mortgage debt offering. the commission may move against the entire rating industry for actions leading to the financial crisis. and finally, the inventor of the dorito, arch west, will be buried as a result in tribute to the 97-year-old's family says they'll sprinkle some chips in his grave. >>> coming up, the cowboys kick the redskins. the astros bunt the cardinals. and the red sox keep slip sliding away. the tampa bay rays grab another win and a tie for the american league wild card playoff spot. your "first look" at sports is straight ahead. you're watching "first look" on msnbc. [ female announcer ] among marie claire's top 25 beauty products that will change your life... for the first time ever... a toothpaste. crest 3d white. if beauty editors notice, who else will? crest 3d white toothpaste. life opens up when you do. the two trains and a bus rider. the "i'll sleep when it's done" academic. for 80 years, we've been inspired by you. and we've been honored to walk with you to

the fbi and securities and exchange commission are investigating whether they broke federal laws. they are based in redwood city. one of the world's largest software companies. >>> when a big company such as solyndra shuts down, it's tough on this community because it's been through this before. >>> a decade later are we no better off? what has been done and hasn't been done to keep americaens safe since the 9/11 attacks. . >>> complete bay area news coverage continues. this is ktvu channel 2 news at 5:00. >>> first it was -- now solyndra. solyndra shut down is bad news for a city reeling from big economic losses. ktvu's robert handa is live with a silver lining there. >> reporter: that's right. it's not just solyndra workers reeling but fremont is looking for new companies to fill all this industrial space as the city rides this roller coaster. >> reporter: solyndra's sudden closure took city hall by surprise but officials dealt with this type of crisis before. two years ago the collapse of the a's baseball stadium, followed by the shut down of the auto plant that led to the layo

for next week meant to attract potential investors and reported one source says the securities and exchange commission may ask more questions about a controversial memo the groupon ceo sent to employees that may violate fcc quiet period rules and contains financial information that is not in the original filing. let's check the closing bell. the dow s and p and nasdaq closed lower today, concerns over the debt crisis creeps back into the limelight. your index was unchanged. and elsewhere, apple says it's opening a store in hong kong this month and it tries to capture the surge in demand from china and neighboring countries. this will be apple's fifth store in the region and no opening date has been specified z lastly an overhaul is coming to the world's largest retailer. sources say amazon.com is testing a major redesign of the web site this, is video of the current amazon web site a cording to l.a. times the site won't have that web site pop up navigation make it more tab blet friendly. >> and i hear groupon is offering a deal on tuition, what is that about? >> this is a deal that parents would love.

[applause] >> this morning we will hear from the head of the securities and exchange commission about her agency's operation. she will testify at a hearing of the house financial-services committee. live coverage at 10:00 eastern span3.spaon c- house members are scheduled to debate a bill on the

the securities and exchange commission, they are a fee-based agency. since the s.e.c. was established, it's collected money by user fees, charged for various transactions in order to cover the cost of its regulation. the primary fees are for sales of stock, registration of a new stock, mergers, tender offers. it also collects fees for penalty fines, for bad behavior that go into the treasuries general fund and amounts collected by the s.e.c. budget were diverted to other government programs. so in 2002, congress changed the treatment of the fees of the s.e.c. so they would only go to a special appropriations account solely for the s.e.c. the s.e.c. wouldn't directly have access to the fees. however, should they collect more than its appropriation. in the dodd-frank bill, congress again changed the treatment of the fees and required some of the fees to go to the general treasury and others to the reserve fund. as a result, lots of complaints with the s.e.c. they still don't have access to their funds. thus like the p.t.o., if congress chooses not to provide all the fund

in 2012, budget justification from the securities and exchange commission noted significant challenges. >> the senate went on to a proof and sent to the president the patent and trademark bill earlier today. we go live now to the senate. the centers got there and walk over to the house side of the capitol to hear president obama speak about his jobs plan plan e a joint session of congress. after his speech, the senate will come back and to hold a roll call vote related to a resolution that would block another increase in the debt limit bill. we will have that life. so come here is what we expect to see over the next hour or so hear on c-span 2. we will watch senators gathered here and then walk over to the house and listen to the president's speech. the presiding officer: the senate will now proceed as a body to the hall of the house of representatives to receive a message from the president of the united states. [inaudible conversations] [inaudible conversations] >> senators made their way through the hall, and now coming into the house chamber, vice president biden there and other me

i'm not the securities and exchange commission. go watch charles ferguson movie "inside job." you're going to tell me somebody came in and wrecked an entire economy and no one is going to be held responsible for this? i don't buy that neither does anybody else. how would james carville deal with it? we have people in place that are able to investigate this and pursue these kinds of things. we haven't been very aggressive about this whole thing. people understand. look at the havoc that has been wreaked by this massive irresponsibility. it's unbelievable. >> james carville speaking his mind as he always does, this time more forcefully than usual. james, thanks very much. >> you bet. >>> another strong shot of criticism aimed at the president today. this time from a more predictable source. we are talking about the house speaker john boehner. he gave an economic speech here in washington and drew a new line in the sand when it comes to tax hikes. let's bring in our congressional correspondent kate bolduan. >> coming one week to the day after president obama laid out his jobs pla

corporate approval being required for political expenditures and, also, is approaching the securities and exchange commission, asking for the adoption of rules to require public companies to disclose their campaign activities. and then the group's democracy 21, campaign legal center, ced, a number of other groups, common cause, public citizen are again working to pass legislation to end this problem. we came very close in 2010, passed legislation in the house that would have required the disclosure that is necessary. got within one vote of 60 votes necessary for the filibuster. but the legislation failed. failed for various reasons. one of which is the consensus broke down for disclosure. republicans almost unanimously opposed the legislation for various reasons. as you can see on any issue today in the u.s. congress, it is hard to get bipartisan support for anything. i will give you an example. in 2001 and disclosure lettuce -- laws were needed to deal with a new problem with 527 groups, congress passed it with overwhelming bipartisan support. that included 48 out of 54 republican senators voting for disclo

. >> let's talk about the s.e.c., securities and exchange commission, was there insider trading going on before that downgrade? >> the s.e.c. let the administration know somewhere around a noon on a friday, they were thinking or going ahead and downgrading america's debt. that would be a very negative for the stock market. it turned out to be a negative on the friday and following monday. did anyone at the s&p go ahead and trade -- the s&p doesn't trade. not likely that they did but you really have to find the paper trail, who else knew about it? were there hedge funds that were alerted to the fact that there was going to be a downgrading and did they make money on it? it's a very, very difficult thing to prove. unfortunately, the s.e.c., see that group? that's the one that missed bernie madoff, biggest scandal in the history of scandals. i'm less than confident that they'll be able to find anything even though there's a lot of people that make a lot of money. >> "daily telegraph" has this story, it's impossible to prove. are they trying to scare these traders into not doing it again

later, the head of the securities and exchange commission, mary

the first one was from representative christopher cox, a total idiot who ran the securities and exchange commission while wall street gambled our economy into the tank. and he said the part about killing jobs and we wouldn't get jobs and we wouldn't get higher revenues. well, actually with the clinton tax increases we did get higher revenues, we did balance a budget, we did pay off debt and we had 3.8% unemployment and we were asking the job creators, the millionaires and billionaires to pay a fair share. i guess chris was wrong. let's see, the second one was from former representative price from ohio about political capital not creating any jobs. well, we already addressed that. we had 3.8% unemployment. what have they done to create a single job so far this year? nothing. in fact, they have eliminated jobs, but, you know, that's because we want to give the job creators a break. we don't want to tax them. all to protect tax cuts. and then finally the final quote about we have a revenue problem -- we don't have a revenue problem, we have a spending problem is from then-representative boehner, now s

." >> mary shapiro the head of the securities and exchange commission testified on capitol hill. we'll have live coverage beginning at 10:00 a.m. eastern on c-span three. >> do you know what the second amendment of the u.s. constitution is? >> yes, i do. >> and what is that? >> it's basically, well, it's somewhat open for debate, but it's been proven just recently that it allows the right to bear arms to individuals. citizens of the united states. >> right to bear arms. >> it's the right to keep and bear arms. >> do you feel safer wearing a handgun? why or stpwhinet >> yes. i do. because being a woman, i'm automatically the weaker target than any other man would be, so i feel that with a handgun here, i would be able to defend myself a lot easier. >> if you're talking about the robbery against a person, obviously, i think that somebody who is -- would not bother trying to rob them. >> that's one of the winners from last year's student cam competition, and you can see all the videos. get more info at studentcam.org. >> a group of house democrats known as the blue dogs held this ne